{"id":7832,"date":"2012-02-10T01:51:43","date_gmt":"2012-02-09T23:51:43","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/african-miners-face-soaring-costs\/"},"modified":"2012-02-10T01:51:43","modified_gmt":"2012-02-09T23:51:43","slug":"african-miners-face-soaring-costs","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/african-miners-face-soaring-costs\/","title":{"rendered":"African miners face soaring costs"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Food inflation fuels wage demands in southern Africa<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Fuel prices, lack of electricity are also a concern<\/p>\n<p><span><\/span><\/p>\n<p>* Tax rises in Ghana threaten some gold projects<\/p>\n<p><span><\/span><\/p>\n<p>By Ed Stoddard and Clara Ferreira-Marques<\/p>\n<p><span><\/span><\/p>\n<p>CAPE TOWN, Feb 9 (Reuters) &#8211; Labour demands in the<br \/>\nsouth, power problems in the east and new tax burdens in the<br \/>\nwest: wherever you look in Africa, miners face a perfect storm<br \/>\nof soaring costs.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There is no question that there are considerable cost<br \/>\npressures on all of us in the industry, whether it is<br \/>\nelectricity, labour, whether it is inflation, overall in every<br \/>\nsingle country where we operate,&#8221; said Cynthia Carroll, chief<br \/>\nexecutive of Anglo American.<\/p>\n<p><span><\/span><\/p>\n<p>In southern Africa, the pressures are literally springing<br \/>\nfrom the soil as rising food prices hit working class budgets,<br \/>\nfuelling union demands for double-digit wage hikes.<\/p>\n<p><span><\/span><\/p>\n<p>In South Africa, inflation was 6.1 percent in December but<br \/>\nfood inflation was 11.1 percent, straining the household budgets<br \/>\nof lower-income workers and fuelling high wage demands by unions<br \/>\nin the mining sector.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts have said above-inflation wage hikes in South<br \/>\nAfrica&#8217;s mining sector have not been matched by productivity<br \/>\ngains from its uneducated and low-skilled labour force.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Food inflation fuels wage demands in southern Africa * Fuel prices, lack of electricity are also a concern * Tax rises in Ghana threaten some gold projects By Ed Stoddard and Clara Ferreira-Marques CAPE TOWN, Feb 9 (Reuters) &#8211; Labour demands in the south, power problems in the east and new tax burdens in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7832","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7832"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7832\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}